On Mar. 9, PHI INS updated on the application of PFRS 17 for HMOs.
PHI INS said PFRS 17 shall be applied to HMO agreements with membership fee based benefits or where the fixed prepaid fee is a membership fee with risks borne by HMO.
If combination of membership fee-based and fund-based benefits it shall be bifurcated.
This circular and 2019-58 are used to identify and account for the components of HMO.
All other provisions of the standard which are deemed applicable shall be adopted.
Effectiveness
This shall be applied for the quarterly and annual reporting starting Jan. 1, 2025.
